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Economic Notes. Chapter 8. Microeconomics – Study of the parts of the economy. Types of unions : Craft or Trade Unions – organization of workers who have the same skills Ex. Plumbers union, teachers, electricians Industrial Union – Organization of workers in the same industry

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microeconomics study of the parts of the economy
Microeconomics – Study of the parts of the economy
  • Types of unions:
  • Craft or Trade Unions – organization of workers who have the same skills
  • Ex. Plumbers union, teachers, electricians
  • Industrial Union – Organization of workers in the same industry
  • Ex. U.A.W. (United Auto Workers), Iron workers
slide3

Triangle Shirtwaist Factory Fire

Apple labor violations

Child labor

http://www.cbsnews.com/8301-3445_162-57367950/the-dark-side-of-shiny-apple-products/

http://www.history.com/videos/the-fight-to-end-child-labor

http://www.cbsnews.com/8301-3445_162-20045115.html

tools used by unions
Tools used by unions
  • Collective Bargaining – the right of a union to choose representatives to negotiate on the memberships behalf
  • Strike – refusal to work
  • Boycott – refusal to buy a company’s products
  • Picketing – workers carrying signs which protest a company’s actions
  • Union Labels – labeling products so people buy union goods and support unions
  • Political Action Committees – groups to act in favor of unions, lobbyists
  • Work To Rule – work to the letter of the contract
illegal options
Illegal options:
  • Wild Cat Strike – workers go on strike even though the union voted not to strike
  • Slow Down – work slower or sabotage the job (it is illegal to not do a job you are paid for)
  • Blacklist – list union activists and refuse to give them jobs
tools of management
Tools of Management:
  • Injunctions – government order for strikers to return to work
  • Lockouts – management prevents workers from working, therefore not earning money. This puts economic pressure on them
  • Strikebreakers – Hire other workers to replace striking workers
  • Relocation – move a business to a new location where the workers are less organized and willing to work for lower wages
government actions
Government Actions
  • Mediation – method for settling a labor dispute, in which a 3rd party listens to both sides and suggests a solution to the situation (it is not binding, just a suggestion)
  • Arbitration – method for settling a labor dispute, in which a 3rd party listens to both sides and makes a decision to solve the situation (binding, both parties must comply)
slide8
Real wages – adjusted for inflation
  • Money Wages – nominal value
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